Will bitcoin effect the current economy system?

[NicG13]

Bitcoin and the other cryptos will not only affect the global economy but shape its future.

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[mharz]

yes, it will affect the economy alot. Everything has changed since bitcoin was created and you can see how important bitcoin is. THerefore, bitcoin will become one of the most important things in the world economy

It can affect, but I would not say it will. It's a long way, and there is no guarantee that any crypto is going to become a major world thing, that can affect global economy. Even BTC despite it is most popular.

If you can't notice bitcoin is already affect to the economy system of each country. It's because thru help of this coin financial needed of each economics will be increased. In addition some unemployed person we're got job in crypto currency industry.
So I'm looking forward that someday this coin will be legalize and it will considered as one of the big source of income of the people in the whole world.

[reymartH]

Bitcoin definitely has created many parallel economies/eco-systems, It has potential to throw some big companies out of the business. It may serve as an alternate medium of exchange for countries in turmoil. But I don’t see any good reason for it to replace the currency or central bank.

[Eternu]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It could in deed but there is also a question of the national culture related to money. There are people who enjoy to feel the paper money between their fingers so the change will be in a long period of time.

I think those type of people are not the majority type.I believe most of the people possess being a humanitarian in their own way.Bitcoin if properly used can really uphold the welfare of the current economy system.Big example of it is minimizing poverty through making unemployed people have their own job that will serve them as one of their source of income.

In history there was golden, silver, bronzed or some other metal as money(coins). After some time paper money appeared and replaced old kind of money. In the future same will happen, paper money will be replaced with electronic. Even now more and more people use pay cards for paying and not cash.  As much as people like some things, no one can stop technology and its progress, it would be pointless trying. If bitcoin becomes worlds currency, sooner or later everyone would need to accept it.
We can all agree that bitcoin gives great opportunity to people, poor and rich to make money out of almost nothing, and that way bitcoin fights poverty. So sooner or later countries will need to accept bitcoin fully. Which if done right will benefit even them. Little by little bitcoin is changing things... it changes economy... it changed the world.

[TTITA]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

I think nowadays Bitcoin has changed from being from alternative online payment transactions to a stored asset value. The impact will not interfere with the value of fiat stability in a country economy system. Currently Bitcoin and other crypto currencies are used as trading objects such as forex and commodities.

[LovelyFLOWER]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes since many uses bitcoin in whole over the world and only few did not knows about it. Bitcoin can affect a countries economy because it may cover all the aspects of the human society and economical system. It also reduces unemployment and also help people and country so that it can increases and raise up the state of the country and its systematical economy so that it make change .

[Cryptophorus Columbus]

Lot of people are talking about the economic effects of bitcoin, but they forget that the main impact will be at political level:
it the system really become decentralized, a lot of institutions will become obsolete; this change will start a revolution so big that nobody can really predict its consequences.

[Tapyaks72]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It could in deed but there is also a question of the national culture related to money. There are people who enjoy to feel the paper money between their fingers so the change will be in a long period of time.

I think those type of people are not the majority type.I believe most of the people possess being a humanitarian in their own way.Bitcoin if properly used can really uphold the welfare of the current economy system.Big example of it is minimizing poverty through making unemployed people have their own job that will serve them as one of their source of income.

In history there was golden, silver, bronzed or some other metal as money(coins). After some time paper money appeared and replaced old kind of money. In the future same will happen, paper money will be replaced with electronic. Even now more and more people use pay cards for paying and not cash.  As much as people like some things, no one can stop technology and its progress, it would be pointless trying. If bitcoin becomes worlds currency, sooner or later everyone would need to accept it.
We can all agree that bitcoin gives great opportunity to people, poor and rich to make money out of almost nothing, and that way bitcoin fights poverty. So sooner or later countries will need to accept bitcoin fully. Which if done right will benefit even them. Little by little bitcoin is changing things... it changes economy... it changed the world.

Talking about Economy and the traditional system yes it really affect because the economic system is centralized and control by few who owned the portfolio of the economy. those are big time capitalist who will control the economy and who the biggest pie of capital. In the introduction of block chain technology were even the small entrepreneur or individual can participate by investing crypto currency and given an equal opportunity to prosper,because there is no third party involved and offer anonymity. these would surely change how we look our economic system.

[FireShark89]

I totally agree that Bitcoin will ruin a country's development especially since transactions made in Bitcoin or any other crypto will not be taxed. Therefore govts will have less funds to use for their country's development and salary for officials.

[Morning honor]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Somehow, I think it is, if Bitcoin was one of the grrat sources of income of each family , no doubt the economy of one country will raise, the shortage of resources will be fine cause the country can afford whatever will happen to the price of the goods, as well as great education for each students will be funded.

Bitcoin can affects one economy specially when they supported this kind of technology. Many people are now using bitcoin and by this they can easily get some profit to use for their daily needs but the government must support its people, creates system to finally educate people with the right information and by this the economy of a country will boom for sure.

Yeah i agree with you bitcoin can change the system of country's economy. When talking about cryptocurrencies i think bitcoin is one of the pillar.

[whirlcoin]

Yes it will affect the economy of the countries that's why every country is trying to regulate.But in many countries there is no taxation for bitcoin and other cryotocurrency so it will reduce the revenue of the most countries.

[hyperhyper]

Of course it will. Not just Bitcoin, all the cryptocurrencies will effect them. Especially the modern Gouverment who will allow and support cryptocurrenciews will have a very positiv effect on their economy system.

[syaripudin]

of course there will be many changes that can be felt in the economy of a country with the bitcoin for now especially for the economic level of the people who occupy a country. I am at least bitcoin can help in terms of economic problems facing a country. some examples that I can mention about the economic change of society within a country and one of which I think bitcoin has overcome the unemployment rate which has now become a very complicated problem faced by a country especially for a developing country.

[Choyor]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

The impact of Bitcoin affects the individual economies of its users and will inevitably affect the economy of every country. and I think the effect of Bitcoin is very positive on the economy of every country because it has contributed to the economy of its population.

[RenBct]

Cashless economy and digital currency are, no doubt, the future of World Economy. Bitcoin as such can affect the economy or not depend upon its acceptability among the general public as a mode of payment.

I'm with you with this. We are going on a fast face with regards to currency and mostly everything is going to digital mode. And for sure our currency is part of that. That is why Bitcoin and other cryptocurrency is really the future of digital economy.

[1Referee]

Lot of people are talking about the economic effects of bitcoin, but they forget that the main impact will be at political level:
it the system really become decentralized, a lot of institutions will become obsolete; this change will start a revolution so big that nobody can really predict its consequences.

In order to make financial institutions and the government with its on debt based system obsolete, we need the average joes to cooperate when it comes to initiating a revolution. It's the mass that can make the real difference here, and as long as this mass keeps allowing the government to dictate their life and treat them as a cash cow by having them pay tax endlessly over the same amount of money, nothing will change. Great first step for people is to stop being so fiat centric. Another important step is that people should understand and appreciate how much financial freedom Bitcoin offers to the outside world. At this point in time, the extreme majority of the digital payments we conduct, and value we store in a digital manner, require approval of centralized entities being the banks, MasterCard, Visa, PayPal, Skrill, etc. We need to cut these greedy and obsolete services out entirely. Bitcoin allows you to do exactly that.

[jatin729]

Yes Bitcoin can effect current economy system of country which has low GDP, Because if bitcoin price rises in future than it will effect on small countries. because Bitcoin CAP would more than GDP of nation. in that scenario will effect economy of any country.

[denyfirmasyahputra]

perhaps for now bitcoin role hasn't been so maximized for an economic change in my country but at least bitcoin effect is very good for economy of its users although limited to individual users but i believe if the government supports bitcoin will certainly give a good effect for the country's economy to get better.

[lucifer2]

until now this has not been too the effect of using bitocoin. in indonesia bitcoin neutral. the goverment warning use about bitcoin because bitcoin for money laundering, drugs, terrorism, etc. bitcoin may be traded but bitcoin can not be a means of payment...

[Eternu]

Lot of people are talking about the economic effects of bitcoin, but they forget that the main impact will be at political level:
it the system really become decentralized, a lot of institutions will become obsolete; this change will start a revolution so big that nobody can really predict its consequences.

In order to make financial institutions and the government with its on debt based system obsolete, we need the average joes to cooperate when it comes to initiating a revolution. It's the mass that can make the real difference here, and as long as this mass keeps allowing the government to dictate their life and treat them as a cash cow by having them pay tax endlessly over the same amount of money, nothing will change. Great first step for people is to stop being so fiat centric. Another important step is that people should understand and appreciate how much financial freedom Bitcoin offers to the outside world. At this point in time, the extreme majority of the digital payments we conduct, and value we store in a digital manner, require approval of centralized entities being the banks, MasterCard, Visa, PayPal, Skrill, etc. We need to cut these greedy and obsolete services out entirely. Bitcoin allows you to do exactly that.

Totally correct, bitcoin and block chain offers services where we do not need third party, like we do in banking system. With that we would not have to pay some taxes fees, and we could save that money for something else.

It will take time before people fully understand what bitcoin is and how it benefits us all. That is all part of that revolution you guys speak of. Revolution begun when bitcoin joined this world, and it is up to all of us to support it if we want to see it survive. Some people (like people in those institutions that will become obsolete) will fight and will do almost anything to see bitcoin fails, because it is not in their interest to have something they can not control. As long as people support bitcoin and use it, it will survive and will continue its path of changing the world.